Electricity rate reduction being discussed
Residents may see some reduction in their electricity bills as part of the cost of living mitigation measures being introduced by the government in the wake of global price hikes that followed the Russia-Ukraine conflict.
2022-04-12 19:17:04 - VI News Staff
Premier Andrew Fahie gave that indication during a press conference recently while responding to questions about some of the measures his government has taken to mitigate rising fuel prices and an expected concurrent rise in electricity rates.
“[Rate reductions are] being discussed. In the [Cabinet] paper there will be some decisions towards that and I’ll be able to say once [the] week is finished,” the Premier said last Friday.
The Fahie-led government has introduced a number of duty-free reductions across the board for residents and businesses that import fuel and other goods into the territory.
These measures are expected to become effective after April 15, for three months in the first instance Premier Fahie noted previously.
According to Premier Fahie, these measures will help to increase the purchasing power of residents across all sectors, allowing persons to be able to stretch their dollar during these challenging times.
“To ensure that the savings and benefits of this initiative are passed on to the consumers, your government will be conducting monitoring exercises where businesses are concerned, through the Trade Department with its consumer protection function and in collaboration with our various other government agencies,” the Premier said previously.